BharatPe former co-founder and managing director Ashneer Grover on November 17 hit out at former SBI chairman Rajnish Kumar and accused him of “delivering nothing and creating a diversion to hide behind” in a post on social media platform X.
In a tweet, Grover said, “Building a big business from scratch is the hardest thing to do. Inheriting a business and keeping it at the same level is still hard. Delivering nothing and creating a deflection to hide behind is the easiest. Well done, Rajnish Kumar ( well technically, ‘nothing’ is done, but still)!But I doubt your world record of destroying $8 billion in SBI and $3 billion in BharatPe back to back, because a President can be hidden behind a smoke screen of cases against me. Especially after you make it an unbeatable billion dollar hat trick with Byju’s following.”
Earlier in a tweet on December 17, 2022, Grover called Kumar’s biggest hiring mistake. “Not just because of what happened, but because I overlooked data. Under Rajnish as CMD, SBI’s stock fell 25% in 3 years ( ₹257 -> ₹192). That’s $8 billion of value destruction. After he left it went to ₹570 (more 200%). Data is never dogla (hypocritical)!,” Grover said in a tweet.
Read also | Ashneer Grover calls hiring ex-SBI chairman Rajnish Kumar his biggest mistake
Rajnish Kumar was appointed as chairman of the BharatPe board in October 2021.
BharatPe’s value was destroyed by Kumar, according to its former managing director. Grover also said that Kumar led BharatPe to a $3 billion divestment.
In a comparison chart shared by Grover, he showed that the company saw zero growth or a negative impact in some measures, including market share, investments and more after 2022.
This development comes after a public argument between BharatPe co-founder Ashneer Grover and CapitalMind founder and CEO Deepak Shenoy.
Amid reports of an EOW probe into BharatPe co-founder Ashneer Grover for allegedly siphoning off funds from the company on the pretext of recruitment services, Grover had a verbal spat with Shenoy.
Amid reports of an EOW probe into BharatPe co-founder Ashneer Grover for allegedly siphoning off funds from the company on the pretext of recruitment services, Grover had a verbal spat with CapitalMind founder and CEO Deepak Shenoy.
For the uninitiated, the Economic Offenses Wing (EOW) filed a first information report against former Grover and his family members, including wife, Madhuri Jain Grover, and brothers-in-law Deepak Gupta, Suresh Jain and Shwetank Jain based on a complaint filed. of BharatPe last year.
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